Market Crashes -- Bill Still Report

 Well, the old debt money system is gasping for breath this morning.
Stocks on the DOW Jones Industrial average dropped 1,089 points within minutes of opening at 9:30 this morning.
The largest one-day drop in the DOW was 777 points in Sept. 2008.
You may have noticed that several months ago, I started keeping tabs on the delta – the difference – between the DOW and the number of subscribers to this report.
The point is that I knew the bubble would burst and the DOW would crash, but the subscribers to this report would continue their slow but sure steady climb.
Why? Because I have my own point of view that I stick to. You might not like it always, but I’m honest, I call ‘em like I see them. It’s the essence of a free press in a free society.
Now as far as the market goes, this is not good. Larry Summers – not my favorite guy -- tweeted the following this morning:
“As in August 1997, 1998, 2007 and 2008, we could be in the early stage of a very serious situation”
Yes, Larry, we may be and no thanks to you. It was you who drove the repeal of the Glass-Steagall Act in 1999 when you were Bill Clinton’s Secretary of Treasury. This allowed banks to put their assets at risk by connecting them to securities firms.
Thereafter you became President of Harvard University and in 2006, you had so many conflicts of interest that they fired you.
Then from 2009 to 2010, it was you who as Obama’s Director of the National Economic Council guided Obama’s response to the Great Recession- flood the banks with handouts so they could create yet another bubble. Now this is the result.
So don’t try to get on Twitter like you are just one of the guys and try to get out ahead of this story by now predicting the obvious – the bursting of the debt-based bubble of which you were one of the chief architects.
I’m still reporting from Washington. Good day.




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